FS Credit Opportunities (NYSE: FSCO) boosts credit lines and extends maturity

Rhea-AI Filing Summary

FS Credit Opportunities Corp. amended its credit facility through its subsidiary Blair Funding LLC. The changes extend the facility’s stated maturity to December 15, 2027 and significantly increase available borrowing capacity.

The maximum revolving facility rose to $150,000,000 from $65,000,000 and the maximum term loan facility increased to $300,000,000 from $285,000,000. The applicable interest spread was reduced to 205 basis points from 215 basis points, lowering borrowing costs. The period during which a spread make-whole fee applies to certain reductions or terminations of commitments was extended to April 17, 2027 from September 20, 2025.

Insights

Credit & capital structure analyst

FSCO expands credit capacity, modestly lowers borrowing costs while extending maturities.

FS Credit Opportunities Corp., via Blair Funding LLC, extended its credit facility’s maturity to December 15, 2027, raised the revolving line to $150,000,000, and increased the term loan to $300,000,000. This provides materially more committed capital from the same bank group.

The applicable spread dropped to 205 basis points from 215, slightly lowering interest expense on drawn amounts. However, the spread make-whole fee period now runs until April 17, 2027, which may increase costs if the company reduces or terminates commitments before that date.

Overall, the amendment strengthens financing flexibility but also maintains lender protections through the extended make-whole period. Future disclosures in company filings will show how actively FSCO uses the expanded revolving and term loan capacities and the effect on interest expense.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Revolving facility limit: $150,000,000 Prior revolving limit: $65,000,000 Term loan facility limit: $300,000,000 +5 more

8 metrics

Revolving facility limit $150,000,000 Maximum revolving facility amount after Third Amendment

Prior revolving limit $65,000,000 Maximum revolving facility amount before amendment

Term loan facility limit $300,000,000 Maximum term loan facility amount after Third Amendment

Prior term loan limit $285,000,000 Maximum term loan facility amount before amendment

Applicable spread 205 basis points Interest spread after amendment

Prior applicable spread 215 basis points Interest spread before amendment

Make-whole fee period end April 17, 2027 End date for spread make-whole fee applicability

Prior make-whole fee end September 20, 2025 Previous end date for make-whole fee period

Key Terms

Credit and Security Agreement, revolving facility amount, term loan facility amount, applicable spread, +1 more

5 terms

Credit and Security Agreement financial

"entered into Amendment No. 3 to Credit and Security Agreement (the “Third Amendment”)"

revolving facility amount financial

"increases the maximum revolving facility amount to $150,000,000 (from $65,000,000)"

term loan facility amount financial

"increases the maximum term loan facility amount to $300,000,000 (from $285,000,000)"

applicable spread financial

"reduces the applicable spread to 205 basis points (from 215 basis points)"

spread make-whole fee financial

"extends the period in which the spread make-whole fee will be payable"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/22/2026 - 04:03 PM Learn about SEC filing dates

FAQ

What did FS Credit Opportunities Corp. (FSCO) change in its credit facility?

FS Credit Opportunities Corp., through Blair Funding LLC, amended its Credit and Security Agreement. The amendment extends the facility’s maturity, increases both the revolving and term loan capacity, slightly reduces the interest spread, and adjusts the period when a spread make-whole fee may apply.

How much credit capacity does FSCO now have under the amended facility?

Under the amendment, the maximum revolving facility increased to $150,000,000 and the maximum term loan facility rose to $300,000,000. Previously, these limits were $65,000,000 and $285,000,000 respectively, giving FS Credit Opportunities Corp. substantially more committed borrowing capacity for its investment activities.

How did the interest spread change in FSCO’s amended credit agreement?

The amendment reduces the applicable spread to 205 basis points from 215 basis points. This 10 basis point reduction lowers the effective interest cost on borrowed amounts under the facility, improving financing terms whenever FS Credit Opportunities Corp. draws on the revolving or term loan tranches.

When does FSCO’s amended credit facility now mature?

The stated maturity date of the facility was extended to December 15, 2027 from December 15, 2026. This longer term gives FS Credit Opportunities Corp. additional stability and visibility around its debt financing, reducing near-term refinancing risk compared with the prior maturity schedule.

What is the new period for the spread make-whole fee in FSCO’s facility?

The amendment extends the period during which a spread make-whole fee is payable on certain reductions or terminations of commitments to April 17, 2027. Previously, this fee period ended on September 20, 2025, lengthening the time lenders are protected if commitments are cut.

Which FSCO subsidiary is the borrower under the amended credit agreement?

Blair Funding LLC, a wholly-owned subsidiary of FS Credit Opportunities Corp., is the borrower under the Credit and Security Agreement. Barclays Bank PLC serves as administrative agent, with Wells Fargo Bank, National Association acting as collateral agent, collateral administrator, and securities administrator for the facility.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 17, 2026

FS CREDIT OPPORTUNITIES CORP.

(Exact name of Registrant as specified in its charter)

Maryland		811-22802		46-1882356
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

3025 JFK Boulevard, OFC 500 Philadelphia, Pennsylvania	19104
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (215) 495-1150

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, $0.001 par value per share		FSCO		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 8.01. Other Events

On April 17, 2026, Blair Funding LLC (“Blair Funding”), a wholly-owned subsidiary of FS Credit Opportunities Corp. (the “Company”), entered into Amendment No. 3 to Credit and Security Agreement (the “Third Amendment”), which amends the previously disclosed Credit and Security Agreement, dated as of December 16, 2020, by and among Blair Funding, as borrower, Barclays Bank PLC, as administrative agent, Wells Fargo Bank, National Association, as collateral agent, collateral administrator and securities administrator, and the lenders party thereto.

The Third Amendment, among other things, (i) extends the stated maturity date of the facility to December 15, 2027 (from December 15, 2026), (ii) increases the maximum revolving facility amount to $150,000,000 (from $65,000,000), (iii) increases the maximum term loan facility amount to $300,000,000 (from $285,000,000), (iv) reduces the applicable spread to 205 basis points (from 215 basis points) , and (v) extends the period in which the spread make-whole fee will be payable on certain reductions or terminations of the commitments to April 17, 2027 (from September 20, 2025).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FS Credit Opportunities Corp.
Date: April 22, 2026
	By:	/s/ Stephen Sypherd
		Name: Stephen Sypherd
		Title: General Counsel

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB